All Forum Posts by: John Knappmann

And it would be bad manners if I didn't also welcome you to BiggerPockets, John!

A good point, Aaron. John, if you are still playing ball, you might want to wait to invest until you have settled on where you are going to live for the long run, then look around there, first. There are a lot of great opportunities in Michigan these days.

I call myself the President and my wife a Manager when we deal with the bank. I tell her that it's the one time I am the boss of her.

If it makes you feel better, there's apparently not a ton of good opportunities in Wayne, either.

Your dilemma is that you have picked unprofitable areas for rentals (property values are too high compared to rents) and want a profitable investment. Short of a major rehab, I don't know how you are going to be able to do it. I'm not even sure taking your time and waiting for the right opportunity will work since you also have to live somewhere while you are looking.

If it was me, I would probably look in Westland and accept that it is a short term situation. Otherwise, your short-term living requirements will rule out your long-term investment potential.

Plus I would echo what Rob said. You might want to look at single family homes, especially since there are not that many multi-family units built in the west end of Wayne and Oakland counties.

Hi Scott, I think you could find good investments in many places. Look around and think about finding an area where the numbers work, where would you be comfortable putting your money, and how far are you going to it when you need to. I target downriver and some areas of Detroit near it because I already know that driving to my (old cottage that I couldn't sell) rental over an hour away is hassle that I would rather avoid. Plus I drive to downtown every day for my day job. Within that area, there are good spots and bad spots to invest in. It would be similar for you, although you may have to drive a little farther unless there is something worthwhile in Lapeer. But if you look at Genessee County, I'm sure you can find plenty of worthy candidates.

@Aaron, your typical lowlife targets a place either because he thinks it's an easy target or because he knows the person there and something he knows is motivating him. If your guy installed security and it is visible, than odds are something about your tenant is attracting his attention. Maybe it's a grudge, maybe he knows there is money or high-end electronics in the house, maybe the guy used to leave the door unlocked. I don't know. If he does not have an sign visible, then get him one You would think he'd move on down the block to steal something.

I had to call my wife over to the computer when I saw this and ask her when was the last time she said something like that! :)

Your taxes are based on the assessed value and the rate. Some cities and townships assess more aggressively than others. Some have higher rates. I would suggest looking at other cities in that same area (Oakland County) and see if you find something that works better. If not, widen your search area out until you find something that works.

It should be in your articles or agreement. If it is not clear, you will inevitably have problems later.

Welcome, Valentino! I'm downriver, but Aaron and some others on here are tearing it up out where you are living and planning to invest. Some more of them will probably chime in soon. Look around, ask questions, and best of luck.